Abstract
Climate change has removed large quantities of ice and has removed impediments to Arctic sea navigation and in doing so has opened up a new route. Most of these ice-free routes can be used for navigation including oil and gas logistics and transportation and reducing transit by more than 5000 nautical miles. While these events allow for a widening of transportation routes but many challenges naturally inherent to the Arctic are still present, for example, the risk of possible oil spills in the very sensitive ecosystem and the safety risks to crew and equipment. New Technology offers more thorough ways to minimize and manage this risk and to preserve the integrity of ecosystems, safety of people and the profits of companies where operations are more cost sensitive and difficult than in other regions of the world. This paper proposes one model of risk reduction and evaluates the best ways to reduce ecological and safety risks of oil and gas companies operating in the Arctic route. It also proposes methods to incorporate digital value into the organization through four sectors, Sustainability, Efficiency, Accountability and Profitability.
Highlights
The northern route, including Alaska, Canada, and Russia, is the shortest way to connect Europe and Asia
Our analysis shows that the increased number of ships in the Northern Route presents a greater risks of ballast water contamination, possible spills, collisions with ice bodies and wildlife and other risks such as sound pollution
The diagram above presents the flow of data from sensors and their incorporation and interpretation by machine learning algorithms and by artificial intelligence systems
Summary
The northern route, including Alaska, Canada, and Russia, is the shortest way to connect Europe and Asia This route has been, for most of modern history, covered by ice. Climate change has opened new parts of that route to transportation. Oil and gas companies can take advantage of these new routes to respond to changes in demand, in liquified natural gas, condensates, and oil products, due to the growing demand of Asian markets. This route has been proven safer than African routes because to lower piracy and better infrastructure than in African regions. The conjunction of benefits is that new technologies like connectivity, Artificial intelligence and Machine Learning can improve ecological safety; it can create profits for Oil and Gas companies by reducing risk, losses and make logistic processes more efficient
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